The FedEx and SoftBank-backed shipping service provider’s offering, set to take place early next year, will reportedly value it between $5.5bn and $6bn.
Delhivery, an India-based logistics service provider backed by corporate investors FedEx and SoftBank, filed for an initial public offering that will be sized at up to Rs 74.6bn ($998m) yesterday.
The flotation is set to take place early next year and the company will be valued at between $6bn and $6.5bn, according to the Economic Times, while a source privy to the matter told Reuters the figure would likely be $5.5bn.
The IPO will involve Delhivery issuing $669m of new shares together with a secondary share sale of $329m. Internet and telecommunications group SoftBank, which holds a 22.8% stake in the company, is set to sell $100m worth of shares while Carlyle, which owns 7.4%, is divesting $123m.
The other selling shareholders include conglomerate Fosun and Times Internet, a subsidiary of media group Bennet, Coleman & Co, ET reported yesterday, citing a person familiar with the development.
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